Fear of missing out

counter_violent said:
forget Bitcoin Mike, lets say that boat sailed long ago
Click to expand...

This is the only conclusion I can reach. There’s no viable way to trade it without excessive risk. Maybe I would have said the same thing when it was $1000 I don’t know, I’d never really looked in to it until it started getting pumped because I’m just an average joe.

Seems to me as CV says, the technology shoukd be here to stay. Buy a load of the cheap ones up now and pray one of them goes mental.
 
mike. said:
A friend and I did a little research into Ripple last week, Gatehub want all your personal details inc a passport photocopy to supply you a wallet to keep your ripples in, Gatehub is a slovakian company with a postal address in hatton garden, You gotta draw the line somewhere when you think its just too dodgy..

To summarise:

I pay gbp, to convert into eur in order to buy virtual coins to keep in my virtual wallet.... The wallet is supplied by a company in slovakia ive never heard of, It is then stored ether on my pc hard drive or a form of digital storage on some cloud somewhere in the world. what can possibly go wrong ? :LOL:
Click to expand...

You can store offline though? Isn’t it the same process with Coinbase (and others) and they are one of the better known ones?
 
Idk brewski, Its all a little complicated to me. It could be a whole new avenue for you to abuse, You got the plumbs pal...:LOL:
 
mike. said:
Idk brewski, Its all a little complicated to me. It could be a whole new avenue for you to abuse, You got the plumbs pal...:LOL:
Click to expand...

I think crypto is right up abuseski's street :LOL:

I'm not saying BTC can't be traded, but perhaps take a leaf out of Darkies book....longs only and fully fund your levered stake. Every time there's a parabolic top reversal, just dive in cos you know it will be double the previous high price within a few months (y)

I've lost count of the number of times this has happened.

http://uk.businessinsider.com/bitcoin-price-and-moores-law-2017-8


 
Last edited:
Sorry to be a wet blanket BUT
1. The costs in electricity are enormous and powering up nothing. Let them buy their own generators.
2. Criminals are around the cryptos like moths to a candle, laundering dirty money etc.

IT IS TIME THE GOVT BANNED IT !!!
 
Pat494 said:
Sorry to be a wet blanket BUT
1. The costs in electricity are enormous and powering up nothing. Let them buy their own generators.
2. Criminals are around the cryptos like moths to a candle, laundering dirty money etc.

IT IS TIME THE GOVT BANNED IT !!!
Click to expand...

Agreed , you can bet thats what will happen , governments wont let that slide under their nose , it takes time though . Technically the US government can call the show off by declaring owning a bitcoin as a felony .

And when this crypto space becomes regulated you can bet their will be more advanced and regulated coins out there , if blockchain is the next hot thing then microsoft apple google ... etc will have their own coins , and current coins will cease to exist - almost - .

Keep an eye on tether , its a disaster waiting to happen , most crypto exchanges trade coins against tether not against the $ , tether could be the next ponzi scheme .


https://www.bloomberg.com/news/arti...her-and-its-links-to-biggest-bitcoin-exchange
 
Last edited:
CBOE Bitcoin futures launch on Sunday. Seven things you need to know

The Bitcoin market goes mainstream on Sunday with the launch of the first Bitcoin futures contract.
Here are five things you need to know:
#1 - When it starts
The CBOE launches it on Sunday at 5 pm Chicago time (2300 GMT). The CME product will start trading a week later. Both markets will be closed on the weekend, which creates a risk of massive gaps with Bitcoin often moving more than 20% in a day.
#2 - The contract size
Each CBOE contract is for one Bitcoin. That differs from the CME where it's 5 Bitcoin. The smaller CBOE contract size is attractive for smaller investors. The minimum movements are 0.01 points, which is equal to $10.
#3 - Market orders are banned
This is good and bad. It's bad because you can't just hit the 'sell' button and get out. It's good because you don't have to worry about slippage and that will minimize some of complaints, scaling and surprises. Another caveat is that all orders must be 'exposed' for 5 seconds, which is an effort to curb spoofing.
#4 - It's cash settled
No Bitcoin will change hand at the CBOE. It's a cash-settled market which means the buyer and seller essentially are on the hook for the difference between the sale price and the cash price.
#5 - Price discovery
This is the big one. The CME is using a price index of various exchanges for its pricing and settlement. For settlement at the CBOE, it will be based on auction price for Bitcoin at the 4 pm ET auction at the Gemini Exchange on settlement day. If that fails, there are contingencies, with the primary one being the Winklevoss Blended Bitcoin Index.
#6 - Trading halts
This could be a major factor if any trouble hits. Futures will be halted for 2 minutes on any move of 20% or more. They will be halted for 5 minutes if price moves exceed 20%. This is a major and perhaps killer advantage of the CME product, which can't trade more than 20% outside the open
#7 - Margin
Initial margin will be 44% of the current daily settlement price and maintenance margin will be 40%; That's higher than the 35% at the CME.
(Source:ForexLive)
 
Six major worries about Bitcoin futures at the CME

The CFTC gave its blessing to Bitcoin futures and the CBOE contract will launch this week and the CME contract on December 18.
The CME is second to market but my guess is that the CME will win the battle for volumes. However, they may come to regret that if it goes badly.
Here are 5 major worries:
#1 - The hours
CME Bitcoin futures will open Sunday at 5 pm Chicago time and close at 4 pm on Friday. That leaves 49 hours where Bitcoin will trade but the futures market will be closed. Margin on the contract is 35% but in the last 48 hours Bitcoin has rallied 35.6%.
#2 - The contract size
The contract size is 5 Bitcoins, which is $77,885 at current prices. That puts initial margin at a minimum of nearly $28,000. That's a number that's far beyond retail traders. That's a good thing for financial stability but it's also likely far beyond what*most Bitcoin miners could use to hedge.
#3 - The position limit
The position limit is 1,000 contracts, or 5,000 Bitcoin. That means someone could put on $75 million in exposure to Bitcoin with $26.25 million in margin.
#4 - Trading halts
This is a major worry. Here's what the CME says: "A price limit of 20% above or below the reference price and special price fluctuation limits equal to 7% above or below the reference price and 13% above or below the reference price apply. Trading will not be permitted outside of the 20% range above or below the reference price." That could leave the exchange in a very bad spot if prices move more than 20% on subsequent days. Trading would essentially not open and people would be stuck with massive losses (or gains).
#5 - It's cash settled
No Bitcoins will change hands at the CME. It's a cash-settled contract which means that if you buy a futures contract, you don't get 5 Bitcoins delivered to you at expiration. Instead, you get the difference between what you paid and what it's trading at. It's essentially like a big side-market where you bet on the price of something that no one has. Many futures markets work this way.
#6 - The reference rate
This is the big worry. The CME has designed the Bitcoin Reference Rate (BRR) and a Bitcoin Real Time Index (BRTI). The latter will be used to track price movements and is based on this equation.
(Source : ForexLive)
 
mike. said:
Idk brewski, Its all a little complicated to me. It could be a whole new avenue for you to abuse, You got the plumbs pal...:LOL:
Click to expand...

counter_violent said:
I think crypto is right up abuseski's street :LOL:

I'm not saying BTC can't be traded, but perhaps take a leaf out of Darkies book....longs only and fully fund your levered stake. Every time there's a parabolic top reversal, just dive in cos you know it will be double the previous high price within a few months (y)
Click to expand...

abuseski:LOL:

It would be ideal for some abuse, I have spent a lot of time considering it but I just can't see any way for my system to work on it. The actual risk gets too high too quickly to the point that if it pops I'll be selling non-vital organs.
 
nocoiner.jpg
 
mike. said:
Do you think the people buying into crypto are just naive to trading and the risk's involved ?
Or have actually studied it and are way ahead of us and can see its future value in today's digital age.. Its everything a trader fears, zero intrinsic value, ready to tank at anytime yet everybody wanting a piece of it as it continues to rise...It has me baffled.
Click to expand...

https://twitter.com/McClellanOsc/status/919943253859827712
 
brewski1984 said:
There's plenty of those around I guess. What price did you get in on Bitcoin and are you still in it?
Click to expand...

I started in 2013 and bought 700 usd and I had to sell at 300 usd, so I know it's not ponzi, I know it's not money, I know I'm not a bitcoin millionaire. I know it's something new and dangerous, but once you know it and you've used it, you know there's nothing better. I know it is the standard of the future.

I dont want to sound presumptuous but I have one portfolio with more than 11000% gain with some cryptos and of course I have also btc.

My act of faith is this: selling at this moment is like wanting to sell uranium in the 19th century.
 
"one fool’s bet that a greater fool will be willing to buy that Bitcoin for more than the first fool paid for it"
 
You must log in or register to reply here.

Similar threads

C
Diary of a new Crypto Trader
2 3
Replies
41
Views
9K
Quantt
Quantt
Joe Ross
Fear of missing a move
Replies
0
Views
2K
Joe Ross
Joe Ross
bbmac
Fear
Replies
3
Views
4K
lynhappytrader
L
T
Trading Fears - Losing money, Missing Out, Being Wrong
Replies
14
Views
4K
shadowninja
shadowninja
L
What is Bitcoin and its benefits
Replies
19
Views
8K
darrensammy
D
Top